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B2B ecommerce unicorn Udaan raises fresh debt

VCCircle

VCCircle · 9m ago

B2B ecommerce unicorn Udaan raises fresh debt

B2B ecommerce platform Udaan has secured approximately Rs 300 crore ($40.6m) in debt financing from venture debt investors including Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital. The funds will be used to strengthen Udaan's balance sheet, expand its geographical reach, improve operational efficiency, and enhance service delivery for customers. Udaan aims to continue leading the B2B market in the evolving business landscape. This debt funding follows a $340 million Series E financing round led by M&G Plc earlier this year. Udaan reported consistent growth and is on track to achieve profitability.

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IPO-bound udaan acquires retail-tech startup ShopKirana

YourStory

YourStory · 19d ago

IPO-bound udaan acquires retail-tech startup ShopKirana

Udaan, a B2B ecommerce unicorn, has acquired retail-tech startup ShopKirana in an all-stock deal as it prepares for an IPO. ShopKirana's investors, including Info Edge and Sixth Sense Ventures, will become Udaan shareholders. The acquisition aims to enhance Udaan's offerings, leveraging ShopKirana's expertise in FMCG in Tier II markets. This strategic move is expected to consolidate Udaan's position and unlock synergies in FMCG and private label operations, driving operating leverage in key markets.

Udaan raises $114M led by M&G, Lightspeed

YourStory

YourStory · 2m ago

Udaan raises $114M led by M&G, Lightspeed

B2B ecommerce firm Udaan raised $114 million in new funding led by M&G Investments and Lightspeed Venture Partners, focusing on profitability and an impending IPO. Founded by ex-Flipkart executives in 2016, Udaan is India's largest eB2B platform. The funds will expand FMCG and HoReCa segments, boost private-label offerings, and improve the balance sheet. Udaan aims for EBITDA profitability in 18 months, implementing a cluster-led model to enhance margins and control costs.

Udaan raises $75 Mn at flat valuation

Entrackr

Entrackr · 5m ago

Udaan raises $75 Mn at flat valuation

Udaan raises $75 Mn at flat valuation B2B e-commerce platform Udaan has raised $75 million in a Series G equity funding round at a flat valuation, as announced by the company’s co-founder and CEO, Vaibhav Gupta, during a town hall today. Sources assert that the company has been valued in the range of $1.5 to $1.8 billion in this round. According to sources, Udaan plans to use the funds to uplift customer experience, expand market reach, strengthen strategic vendor partnerships, and beef up supply chain and credit infrastructure. Last month, Udaan received approval from the National Company Law Tribunal (NCLT) to merge its various business entities into a unified entity, Hiveloop Ecommerce Pvt Ltd. This consolidation marks a significant milestone in its journey toward becoming a publicly listed company. In October 2024, Udaan secured Rs 300 crore (over $35 million) in debt funding from Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital. The company has raised around $1.9 billion in debt and equity funding to date. Udaan’s gross revenue (GMV) grew only 1.7% to Rs 5,706.6 crore in the fiscal year ending March 2024 in contrast to Rs 5,609.3 crore booked in FY23. However, it managed to control its losses by 19.4% to Rs 1,674.1 crore in the same period.

Infra.Market bags ₹185 crore debt funding

Inshorts · 1y ago

Infra.Market bags ₹185 crore debt funding

B2B ecommerce platform Infra.Market has raised ₹185 crore (about $22 Mn) in debt funding from multiple investors. As per the startup’s filings with the Registrar of Companies (RoC), it raised the debt from digital lending unicorn Yubi (formerly CredAvenue), agriculture financing platform Samunnati, Vivriti Capital, among others, by issuing non-convertible debentures.

Udaan eyes $100 million from UK’s M&G and others at flat value

Economic Times

Economic Times · 9m ago

Udaan eyes $100 million from UK’s M&G and others at flat value

UK savings and investment firm M&G Prudential is reportedly in talks to lead a $80-100 million funding round for Indian B2B ecommerce firm Udaan. This would increase M&G Prudential's shareholding in Udaan, though the valuation is expected to remain flat. Udaan is focused on reducing costs and implementing restructuring plans, with a goal of becoming Ebitda profitable. The company's net merchandise value run-rate has decreased, but it has seen growth in categories such as grocery, pharma, and general merchandise. Udaan intends to move its domicile back to India in preparation for a potential IPO.

Udaan valuation falls to $1.8 billion from $3.2 billion in down round

Economic Times

Economic Times · 1y ago

Udaan valuation falls to $1.8 billion from $3.2 billion in down round

B2B ecommerce company Udaan's valuation has dropped to around $1.8 billion in a down round, marking a significant decrease from its last valuation of $3.2 billion. The Bengaluru-based startup closed a $340 million financing round in December 2021, which included converting debt into equity. Udaan has been scaling down operations and reducing costs to reach profitability. The company has set operational targets and plans to reach profitability over the next two quarters. Udaan's parent company is considering an IPO within the next 12-18 months.

WaterBridge appoints former Udaan exec to head early-stage deals

VCCircle

VCCircle · 1y ago

WaterBridge appoints former Udaan exec to head early-stage deals

WaterBridge Ventures, a venture capital firm in India, has appointed Sapna Goyal, a former executive at B2B e-commerce unicorn Udaan, as their Vice President of early-stage deals. WaterBridge Ventures has previously invested in companies like Unacademy, Atlan, Magicpin, Bijnis, and CityMall.

Udaan in talks to raise new round, valuation may drop significantly

Entrackr

Entrackr · 1y ago

Udaan in talks to raise new round, valuation may drop significantly

Udaan, a B2B e-commerce firm, is reportedly in discussions to raise $200-250 million in an internal funding round led by Lightspeed and other internal investors. This equity round follows a 30-month gap, during which Udaan mainly raised funds through debt and convertible notes. The Bengaluru-based company, previously valued at over $3 billion, may undergo a valuation haircut and could be valued between $1 billion to $1.5 billion. Udaan saw significant growth in revenue but also incurred substantial losses in FY22. Both Udaan and Lightspeed denied the details reported.

Udaan logs lower net loss, flat operating revenue in FY24

Economic Times

Economic Times · 9m ago

Udaan logs lower net loss, flat operating revenue in FY24

Bengaluru-based B2B ecommerce platform, Udaan, reported nearly flat operating revenue growth of Rs 5,707 crore in FY24, following operational restructuring to reduce losses. The company's net loss for the year narrowed by almost a fifth to Rs 1,674 crore. Udaan reduced its staff costs by 35% YoY to Rs 643 crore and made cuts in other expense areas. Sale of traded goods accounted for over 98% of the revenue. The company's founders have stepped back from operational roles but remain on the board. Udaan may secure $80-100 million in funding from M&G Prudential.

Udaan's NBFC arm takes a hit in revenue as group goes through optimisation

VCCircle

VCCircle · 1y ago

Udaan's NBFC arm takes a hit in revenue as group goes through optimisation

Udaan's NBFC arm, Hiveloop Capital, experienced a decline in revenue for FY23. However, this was due to business optimization at the group level, leading to an overall improvement in Udaan's financial health. Despite the decrease in revenue, Udaan remains a prominent Indian unicorn in the B2B e-commerce sector.

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